Oil prices reversed earlier losses to trade sharply higher on Thursday after President Trump said he is confident Russia and Saudi Arabia will reach a deal soon to solve the oil-price dispute and that he may join the talks if necessary. The US crude traded above $22 a barrel and the Brent crude above $27 a barrel. Oil prices have been trading near their lowest level in eighteen years because of the twin hits of the coronavirus outbreak slashing fuel demand and a price war between top producers Saudi Arabia and Russia.